Broker Name: DBS Bank Ltd
Date of Report: 2 April 2026
Excerpt from DBS report.
Report Summary
- Straits Times Index (STI) Target: Year-end target of 5,250 maintained; near-term trading range 4,700–5,040.
- Actionable BUY Calls & Target Prices:
- Sembcorp Industries: Buy, Target Price S\$7.30
- OCBC: Buy, Target Price S\$23.00
- Singapore Exchange (SGX): Buy, Target Price S\$19.20
- UMS: Buy, Target Price S\$1.83
- IFAST: Buy, Target Price S\$12.15
- Seatrium: Buy, Target Price S\$3.00
- Nam Cheong: Buy, Target Price S\$1.60
- Mapletree Logistics Trust: Buy, Target Price S\$1.55
- UOL: Buy, Target Price S\$13.00
- CityDev: Buy, Target Price S\$12.00
- CICT: Buy, Target Price S\$2.80
- MLT: Buy, Target Price S\$1.55
- Suntec REIT: Buy, Target Price S\$1.60
- Centurion Accommodation REIT: Buy, Target Price S\$1.30
- SATS: Buy, Target Price S\$4.50
- First Resources: Buy, Target Price S\$3.00
- Bumitama Agri: Buy, Target Price S\$1.90
- ST Engineering: Buy, Target Price S\$12.40
- NetLink Trust: Buy, Target Price S\$1.08
- DFI Retail: Buy, Target Price S\$5.00
- Sector Highlights & Ideas:
- Safe-haven status for Singapore equities affirmed, with resilience driven by banks, SGX, tech, utilities, and O&G-related stocks.
- Rotation between escalation (energy, commodities, defence stocks) and de-escalation (REITs, property, transport) trades expected.
- Prolonged high oil prices (>USD100/bbl) benefit O&G and defensive stocks; weigh on hotel REITs and consumer discretionary.
- Implications:
- Investors should focus on sectors and stocks resilient to geopolitical volatility and oil price swings.
- Actionable BUY calls with target prices offer guidance for portfolio positioning.
above is an excerpt from a report by DBS Bank Ltd. Clients of DBS Bank Ltd can be the first to access the full report from the DBS website : https://www.dbs.com.sg
